Customer loyalty is often seen as the “Holy Grail” of customer experience. It is the ultimate goal. The reason for many companies to exist. After all, customer loyalty means more revenue for the company, more competitive business, more referrals, and just more, more, more. Yes, customer loyalty means more.
In this article we will show you what it consists of, its importance and how you can successfully promote it in your company.
What is customer loyalty?
Customer loyalty is the ongoing emotional relationship that exists between a consumer and a brand, and is manifested in a customer's willingness to engage with and purchase from the brand repeatedly.
Customer loyalty is therefore a measure of the likelihood that a customer will make repeat purchases with a company or brand, preferring it over competitors.
Loyalty is the byproduct of a positive customer experience and works to build trust.
It is also the result of customer satisfaction and the overall south africa phone number value of the goods or services a customer receives from a company.
Types of customer loyalty
People are loyal for a variety of reasons, but there are generally considered to be 6 types of customer loyalty :
1. Loyalty for satisfaction
Happy customers love your products or services, have never complained, and have probably bought from you many times. But your competitors can easily steal them from you – all it takes is a better offer, a discount, or building a better relationship.
2. Price loyalty
Mercenary customers are only with you for the low prices. They are looking to save as much money as possible and if another brand offers them something better, they will leave. If you offer them the best price again, they will come back. It is quite easy to keep this type of customer, but at a tremendous cost.
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